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I must say this an in-depth review of Chaka app. But honestly, you need to update that part about Chaka not collecting fees.

Chaka collects fees


Hello Desmond, we never said Chaka doesn’t collect any fees at all. We said “Chaka doesn’t charge any fees for opening account, for account maintenance, for wire transfers or for foreign Exchange Fees. The company only charges a fee when a user executes a trade. The user also pays mandatory regulatory fees levied by Nigerian regulators and other market regulators.”

So they charge when a trade is executed as well as the fees that are levied by market regulators like SEC.

We appreciate you commenting. Please feel free to state any objections you have.


Thanks for the detailed piece. My question is, should chaka cease to exist tomorrow, what would happen to people’s money in your custody?

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